The Finance Minister Shaukat Tarin chaired the Economic Coordination Committee (ECC) of the Cabinet and approved US$130 million cash support for Pakistan International Airlines (PIA).
As per details, A decision to this effect was taken at the ECC meeting, which was held in Islamabad with Finance Minister Shaukat Tarin in the chair, The ECC was appraised that the airline has experienced a significant decrease in revenues and cash flows due to pandemic and unprecedented travel bans/lockdowns imposed by various countries.
Moreover, the Economic Coordination Committee (ECC) also approved the enhancement of the existing approved guarantee enabling PIA to overcome its financial challenges.
The Economic Coordination Committee (ECC) also approved the provision of 300,000 metric tonnes of wheat to Azad Jammu and Kashmir, The provision of wheat will be at the ratio of 80/20 as a mixture of local and imported stock.
The forum also approved 3.86 billion rupees in favour of the Revenue Division (FBR) as a bridge financing facility to upgrade IT infrastructure in view of increased frequency and severity of cyber-attacks to ensure elimination of risk to taxpayers data.
The CAA approved the provision of 70 MMG RLNG to SNGPL based plants during Rabi season 2021-22. It further directed to consider the possibility to import urea (if needed) to maintain buffer stocks.
The Finance Minister while speaking on the occasion, He said, “PTI government is firmly committed to stabilize prices of wheat and ensure its smooth supply at affordable prices across the country”.
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